STORY HIGHLIGHTS
- Aviatra Accelerators is expanding to 112 W. Pike St. in Covington
- Aviatra Incubator opens Oct. 1 for early-stage women entrepreneurs.
- Office leases are available for below-market rates for six-month terms.
A Covington group is expanding its footprint in the city’s Innovation Alley – taking up residence in a historic building near Braxton Brewing Co. to launch a new concept.
Aviatra Accelerators, which has called 114 W. Pike St. home since 2016, is expanding into its neighboring building at 112 W. Pike St.
The nonprofit, which helps women start and grow businesses through programming, coaching, mentoring and more, will open Aviatra Incubator there, effective Oct. 1. Jill Morenz, Aviatra president and CEO, said she’s shopped a few spaces nearby in which to build out the new initiative. There’s a void, she told me, for lower-cost office space for early-stage women entrepreneurs and business owners.
Aviatra Incubator will serve as that “middle step,” she said, with seven dedicated offices, coworking and business event space.
Leases are available for six-month terms at below-market rates. The idea is that Aviatra will help the businesses grow enough during that time that they’re ready to upgrade to other spaces nearby. Coworking concept Cohatch, for one, is set to open in Covington in late 2024 or early 2025, and SparkHaus, a new hub for high-growth startups and venture firms, is on pace for a summer 2025 debut nearby on Madison Avenue.
“We see so many women who are at that point where they just need to think a little bit bigger and look at their business a little bit bigger, but they can't yet afford professional office space,” Morenz said. “They're working out of their home, and they meet clients at Panera, and right now, there is no other choice. This is just one more little step to help them on their way.”
Overall, Aviatra Incubator will offer seven dedicated offices with rents that range from $300 to $650 a month.
Aviatra plans to replicate the look and feel of its 114 W. Pike St. office at the 112 space. Its current building, renovated in recent years by owner Orleans Development, has a living room feel – it’s bright with multiple seating areas and is decorated with lots of pinks and color.
“Part of what we're selling is the vibe,” Morenz said. “It’s fun.”
The budget for Aviatra Incubator is minimal – 112 W. Pike St. needs new paint, and Morenz hopes to crowdsource furniture for the lounge, which will be used as coworking space. Much like its dedicated offices, the coworking spots will also have limited terms: one year at a cost of $100 a month.
In terms of wraparound services, tenants and coworking members receive membership in Aviatra’s paid community, which offers support and accountability and discounts on its education programs.
“We're hoping to bring life in here,” Morenz said. “The purpose of the incubator, in addition to helping these specific women at this stage, is growing the community. So many women still feel alone, and they don't know there's a whole bunch of us out there doing really interesting things. We’ve got these resources and this potential community to connect with. We can grow our reach, grow our impact.”
The building will include a huddle/Zoom room and a shared office for five entrepreneurial support organizations: Committed tenants include Blue North, which will relocate to SparkHaus once ready; Square1, entrepreneur education and business accelerator; and NKU’s College of Law, which will provide free legal assistance to entrepreneurs one day a week.
A board room is available for tenants and is rentable to outside groups for business meetings, classes, retreats or off-site gatherings.
The front portion of the building will be dedicated to popup retail shops. Women-owned businesses can rent the space for a weekend for $150.
Aviatra currently has a two-year sublease agreement with the city of Covington to utilize the 112 W. Pike St. space. The building most recently served as home to Northern Kentucky University’s Collaborative for Economic Engagement, and prior, UpTech, a former Northern Kentucky startup accelerator.
Aviatra takes occupancy at the start of the month. Morenz said the first three office tenants are also slated to move in that day.
She’s looking for sponsorships to help support the incubator concept. There are naming rights available for the program as a whole, as well as individual rooms throughout.
Maggie Frye, Aviatra’s board chair and founder and CEO of Core Consulting Group, called the new concept an exciting and historic strategic development for the organization.
“As the founder and CEO of a small business myself, I know first-hand how valuable it is to be surrounded by a supportive community, especially in the early stages,” Frye said in a statement. “This new incubator is like a booster shot to help early-to-mid stage female founders get closer to achieving their business goals. Women-owned businesses are having a tremendous impact on our economy nationwide, and this incubator helps fill a gap in the local ecosystem.”
Last year, Aviatra directly served 880 women. To date, the organization has helped nearly 4,000 women entrepreneurs create 15,000 jobs and receive millions in funding, and its alumni have generated more than $1 billion in earned revenues.
